Carvana Co. $CVNA Shares Bought by Scge Management L.P.

Scge Management L.P. raised its position in Carvana Co. (NYSE:CVNA) by 37.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 208,000 shares of the company’s stock after buying an additional 57,000 shares during the quarter. Carvana comprises about 2.0% of Scge Management L.P.’s holdings, making the stock its 17th largest position. Scge Management L.P. owned approximately 0.10% of Carvana worth $87,780,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CVNA. Royal Bank of Canada boosted its position in shares of Carvana by 40.8% during the 1st quarter. Royal Bank of Canada now owns 29,867 shares of the company’s stock worth $6,243,000 after purchasing an additional 8,654 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Carvana by 251.4% during the 1st quarter. Geneos Wealth Management Inc. now owns 253 shares of the company’s stock worth $53,000 after purchasing an additional 181 shares in the last quarter. Cerity Partners LLC boosted its position in shares of Carvana by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 5,481 shares of the company’s stock worth $1,847,000 after purchasing an additional 1,226 shares in the last quarter. AXA S.A. boosted its position in shares of Carvana by 340.7% during the 2nd quarter. AXA S.A. now owns 4,253 shares of the company’s stock worth $1,433,000 after purchasing an additional 3,288 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its position in shares of Carvana by 9.1% during the 2nd quarter. NewEdge Advisors LLC now owns 9,893 shares of the company’s stock worth $3,334,000 after purchasing an additional 825 shares in the last quarter. 56.71% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CVNA has been the topic of several research analyst reports. DA Davidson boosted their target price on shares of Carvana from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Gordon Haskett boosted their target price on shares of Carvana from $67.00 to $85.00 and gave the stock a “hold” rating in a research report on Thursday, April 30th. Wedbush decreased their target price on shares of Carvana from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, February 19th. Citizens Jmp boosted their target price on shares of Carvana from $92.00 to $103.00 and gave the stock a “market outperform” rating in a research report on Friday, May 1st. Finally, BTIG Research restated a “buy” rating and set a $97.00 target price on shares of Carvana in a research report on Friday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Carvana currently has a consensus rating of “Moderate Buy” and a consensus price target of $93.14.

Carvana Price Performance

Carvana stock opened at $64.09 on Monday. Carvana Co. has a 52 week low of $54.46 and a 52 week high of $97.38. The company has a quick ratio of 2.57, a current ratio of 4.09 and a debt-to-equity ratio of 1.05. The firm’s 50-day simple moving average is $71.20 and its 200 day simple moving average is $75.23. The firm has a market capitalization of $70.30 billion, a PE ratio of 38.98, a P/E/G ratio of 10.82 and a beta of 3.45.

Carvana (NYSE:CVNA) last released its quarterly earnings data on Wednesday, April 29th. The company reported $1.69 EPS for the quarter, topping the consensus estimate of $0.32 by $1.37. Carvana had a net margin of 6.40% and a return on equity of 41.46%. The business had revenue of $6.43 billion for the quarter, compared to analyst estimates of $6.12 billion. On average, equities research analysts predict that Carvana Co. will post 1.58 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director J Danforth Quayle sold 14,525 shares of the business’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $70.00, for a total value of $1,016,750.00. Following the sale, the director directly owned 214,960 shares in the company, valued at $15,047,200. The trade was a 6.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Thomas Taira sold 5,597 shares of the business’s stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $67.15, for a total transaction of $375,838.55. Following the completion of the sale, the insider owned 315,075 shares in the company, valued at $21,157,286.25. This represents a 1.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 400,812 shares of company stock worth $28,039,446. 15.19% of the stock is owned by company insiders.

Carvana Company Profile

Carvana Co is an online-only retailer of used vehicles that operates a consumer-facing e-commerce platform for buying and selling cars. The company markets and sells inspected, reconditioned pre-owned vehicles through its website, where shoppers can browse inventory, view detailed 360-degree photos and vehicle history reports, finance purchases, and arrange delivery or pickup. Carvana’s model is built around a digital end-to-end car buying experience that aims to simplify vehicle transactions compared with traditional dealerships.

Its products and services include direct retail sales of used cars, trade-in and purchase offers for consumer vehicles, vehicle financing and related protection products, and a seven-day return policy that allows customers to test a vehicle in everyday use.